Common use of Validity of Underlying Repurchase Documents Clause in Contracts

Validity of Underlying Repurchase Documents. The Underlying Repurchase Documents and any other agreement executed and delivered by PMC or guarantor thereto, as applicable, in connection with an Underlying Repurchase Transaction are genuine, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms, except as such enforcement may be affected by bankruptcy, by other insolvency laws or by general principles of equity. POP and PMC had legal capacity to enter into the Underlying Repurchase Transaction and PMC had the legal capacity to execute and deliver the Underlying Repurchase Documents and any such agreement, and the Underlying Repurchase Documents and any such other related agreement to which POP or PMC are parties have been duly and properly executed by POP and PMC, as applicable. The Underlying Repurchase Documents to which PMC is a party constitute legal, valid, binding and enforceable obligations of PMC. The Underlying Repurchase Transaction and the Underlying Repurchase Documents are in full force and effect, and the enforceability of the Underlying Repurchase Documents has not been contested by PMC.

Validity of Underlying Repurchase Documents. The Underlying Repurchase Documents and any other agreement executed and delivered by PMC or guarantor thereto, as applicable, in connection with an Underlying Repurchase Transaction are genuine, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms, except as such enforcement may be affected by bankruptcy, by other insolvency laws or by general principles of equity. POP and PMC had legal capacity to enter into the Underlying Repurchase Transaction and PMC had the legal capacity to execute and deliver the Underlying Repurchase Documents and any such agreement, and the Underlying Repurchase Documents and any such other related agreement to which POP or PMC are parties have been duly and properly executed by POP and PMC, as applicable. The Underlying Repurchase Documents to which PMC is a party constitute legal, valid, binding and enforceable obligations of PMC. The Underlying Repurchase Transaction and the Underlying Repurchase Documents are in full force and effect, and the enforceability of the Underlying Repurchase Documents has not been contested by PMC.

Validity of Underlying Repurchase Documents. The Underlying Repurchase Documents and any other agreement executed and delivered by PMC PMC, POP or guarantor thereto, as applicable, in connection with an Underlying Repurchase Transaction are genuine, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms, except as such enforcement may be affected by bankruptcy, by other insolvency laws or by general principles of equity. POP and PMC had legal capacity to enter into the Underlying Repurchase Transaction and POP and PMC had the legal capacity to execute and deliver the Underlying Repurchase Documents and any such agreement, and the Underlying Repurchase Documents and any such other related agreement to which POP or PMC are parties have been duly and properly executed by POP and PMC, as applicable. The Underlying Repurchase Documents to which PMC is and POP are a party constitute legal, valid, binding and enforceable obligations of PMCPMC and POP. The Underlying Repurchase Transaction and the Underlying Repurchase Documents are in full force and effect, and the enforceability of the Underlying Repurchase Documents has not been contested by PMCPMC or POP.